Gift and Estate Planning
Leave a Lasting Legacy
Many of the forests we love today were planted by people who didn’t live to see them reach full maturity.
Restoration of the American chestnut asks us to bear this in mind and think as they did — beyond our own generation.
As you ponder the future, you might consider what role the legacy you leave behind will play in the forests of tomorrow.
“The true meaning of life is to plant trees,
under whose shade you do not expect to sit.”
—Nelson Henderson (Inspired by an ancient Greek proverb.)
This is the heart of estate planning with TACF.
Why the American Chestnut?
For centuries, the American chestnut shaped the forests of eastern North America. Towering trees fed wildlife, supported rural communities, and formed the backbone of entire ecosystems.
Then, in the early 1900s, tragedy struck. A blight introduced through global trade swept through those forests and wiped out billions of trees within a single human lifetime.
Today, a new story is unfolding. Scientists, volunteers, and supporters across the country are working to restore the American chestnut to its native range. Through modern breeding and genomic tools, we are planting new generations of trees that may once again grow tall across the eastern forests.
The thing is — forests grow on timelines longer than our own. Trees we plant today may live for a century or more. The forests they create will belong to future generations. That is why legacy gifts are so powerful. By including The American Chestnut Foundation in your estate plans, you help ensure that the work of restoring this iconic tree continues well into the future. Legacy gifts allow you to make a lasting impact.
What Is a Legacy Gift?
A legacy gift is a way to support a cause you care about through your estate plans. Many supporters choose to include The American Chestnut Foundation in their will or designate TACF as a beneficiary of retirement assets, life insurance policies, or other financial accounts.
When you make any of these gift commitments, your assets remain in your control. Your gift comes to TACF only after your passing, and if your needs change, you can edit the commitment accordingly. You determine the designation to TACF that feels right for you while ensuring you and your loved ones remain cared for.
Legacy Gift Options:
Wills and Living Trusts
Gift designations in wills and living trusts include specific assets and amounts (cash, securites, or real estate), a percentage of your estate, or a residual distribution. These designations are best completed with the help of a qualified estate planning attorney. Talking with your attorney and financial advisor helps ensure that your gift to TACF is the best gift for you and your family.
You may find this sample bequest language helpful when speaking with your attorney or estate planner:
“I give ___% of my estate to The American Chestnut Foundation, a nonprofit organization, to support its mission of restoring the American chestnut tree.”
The information provided above is for illustrative purposes only and is not intended as legal, tax, or financial advice. Please consult your attorney, financial advisor, or estate planning professional to determine the best charitable giving options for your individual circumstances. They can help structure a gift that accurately reflects your wishes.
If your will or living trust already exists, your attorney can add a codicil that includes your gift to TACF. The entire will or trust does not need to be revised.
If you include The American Chestnut Foundation in your will or living trust, please use the following designation:
The American Chestnut Foundation, a nonprofit corporation, organized and existing under the laws of Virginia, with principal business address of 50 N. Merrimon Avenue, Suite 115, Asheville, NC 28804-1383.
Tax identification number: 41-1483019
Date of Incorporation: June 22, 1983
The name, address, and tax identification information listed above may also be used to complete beneficiary forms for retirement plans and insurance policies.
Beneficiary Designation through Retirement Assets
If you are like most people, you probably will not use all of your retirement assets during your lifetime.
Did you know that your retirement assets may be taxed if you leave them to your heirs at your death? Another option is to leave your heirs assets that receive a step up in basis (such as real estate and stock) and give the retirement assets to TACF. A gift of your retirement assets, such as a gift from your IRA, 401k, 403b, pension or other tax deferred plans, is an excellent way to leave a lasting gift to TACF. If you designate The American Chestnut Foundation as the beneficiary, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death.
Unlike wills and living trusts, gifts through retirement plans and insurance policies pass to recipients, such as TACF, through beneficiary forms. Simply contact your plan administrator and request a beneficiary change form, complete the form, and return it to the administrator or agent who holds the plan. For information on immediate outright gifts from your IRA through IRA Charitable Rollover, visit here.
Beneficiary Designation through an Insurance Policy
Did you know that when you give your life insurance policy to The American Chestnut Foundation, you receive a charitable income tax deduction? You can make deductible contributions to TACF each year, which we can use to pay the premiums and benefit from the proceeds of your policy when you pass.
You can also designate TACF as the beneficiary of your life insurance policy, which you will continue to own and can make use of during your lifetime. The policy will be included in your taxable estate when you pass away, but your estate will benefit from an estate tax charitable deduction for the value of the gift to us.
How Legacy Gifts Help Restore the American Chestnut
Estate giving powers much of TACF’s essential work. Your contribution allows us to:
- Accelerate Scientific Advancement: Utilizing biotechnology and recurrent genomic selection to achieve stable blight resistance.
- Sustain Vital Infrastructure: Maintaining restoration orchards, high-tech breeding equipment, and specialized storage facilities.
- Plant for Tomorrow: Expanding widespread plantings of improved, genetically diverse chestnuts across native lands.
- Develop Future Leaders: Training and mentoring the next generation of restoration scientists through valuable internships and educational symposiums.
Every tree planted today brings us closer to the day where the American chestnut once again thrives naturally. Leave a lasting legacy for our forests — plan your gift today!
Let Us Know
Have you included The American Chestnut Foundation in your estate plans? We would be honored to know. Sharing this information allows us to thank you and to better plan for the future of chestnut restoration.
You may also mail a completed Gift Intention Form to:
The American Chestnut Foundation
Development Department, Attn: John Chastain
50 N. Merrimon Avenue, Suite 115
Asheville, NC 28804
Questions?
If you would like to discuss legacy giving or estate planning options, we would be happy to speak with you. You or your advisors are welcome to email Director of Development John Chastain (gro.fcat@niatsahc.nhoj) or call TACF national office at (828) 281-0047.
Many forests we enjoy today were planted by people who believed in a future they would never see.
We are so very grateful for them.